General Motors (NYSE:GM) PT Raised to $58.00 at UBS Group

General Motors (NYSE:GM) (TSE:GMM.U) had its price objective upped by UBS Group from $56.00 to $58.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the auto manufacturer’s stock.

A number of other research firms have also recently weighed in on GM. Barclays increased their price objective on shares of General Motors from $50.00 to $55.00 and gave the stock an overweight rating in a research report on Thursday, April 11th. Mizuho increased their price objective on shares of General Motors from $48.00 to $52.00 and gave the stock a buy rating in a research report on Wednesday. Royal Bank of Canada increased their price objective on shares of General Motors from $54.00 to $56.00 and gave the stock an overweight rating in a research report on Tuesday, April 23rd. Redburn Atlantic started coverage on shares of General Motors in a research report on Wednesday, January 24th. They set a neutral rating and a $40.00 price objective for the company. Finally, Piper Sandler increased their target price on shares of General Motors from $44.00 to $45.00 and gave the stock a neutral rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $54.65.

General Motors Stock Performance

General Motors stock opened at $45.84 on Wednesday. The firm has a 50 day simple moving average of $42.27 and a 200-day simple moving average of $36.32. General Motors has a 1-year low of $26.30 and a 1-year high of $46.17. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.16 and a quick ratio of 0.90. The stock has a market cap of $52.30 billion, a price-to-earnings ratio of 5.60, a price-to-earnings-growth ratio of 0.53 and a beta of 1.51.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. The firm had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the company posted $2.21 EPS. On average, analysts expect that General Motors will post 9.45 EPS for the current year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, June 7th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, June 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.05%. General Motors’s dividend payout ratio (DPR) is currently 5.87%.

Insider Transactions at General Motors

In other news, EVP Gerald Johnson sold 27,122 shares of General Motors stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the completion of the sale, the executive vice president now directly owns 71,506 shares of the company’s stock, valued at approximately $3,236,361.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CAO Christopher Hatto sold 15,510 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $40.02, for a total value of $620,710.20. Following the completion of the sale, the chief accounting officer now directly owns 21,507 shares of the company’s stock, valued at $860,710.14. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Gerald Johnson sold 27,122 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the completion of the sale, the executive vice president now directly owns 71,506 shares of the company’s stock, valued at $3,236,361.56. The disclosure for this sale can be found here. In the last three months, insiders sold 86,248 shares of company stock valued at $3,614,078. Insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On General Motors

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in General Motors by 1.4% in the third quarter. Vanguard Group Inc. now owns 111,460,756 shares of the auto manufacturer’s stock valued at $3,674,861,000 after purchasing an additional 1,580,681 shares during the period. Putnam Investments LLC increased its stake in General Motors by 16.8% in the fourth quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock valued at $726,942,000 after purchasing an additional 2,905,689 shares during the period. Hotchkis & Wiley Capital Management LLC increased its stake in General Motors by 21.9% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock valued at $650,062,000 after purchasing an additional 3,247,050 shares during the period. Norges Bank acquired a new position in General Motors in the fourth quarter valued at $602,280,000. Finally, Morgan Stanley increased its stake in General Motors by 1.3% in the third quarter. Morgan Stanley now owns 15,212,672 shares of the auto manufacturer’s stock valued at $501,562,000 after purchasing an additional 201,080 shares during the period. 92.67% of the stock is owned by hedge funds and other institutional investors.

About General Motors

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.